In my recent interview with Andrew Biggs for the Better Than Rich Podcast, we explored a topic that’s close to my heart and critical for every business owner: the exit. I shared something that often catches people off guard—up to 90% of businesses don’t sell. They simply shut down.

That statistic isn’t just disappointing. It’s avoidable.

Over the years, I’ve worked with founders and CEOs who’ve built incredible companies, only to realize—too late—that no one was ready to buy them. In this conversation, I walk through the key reasons why that happens, and more importantly, how to change the outcome.

The Hard Truth: Most Businesses Aren’t Built to Be Sold

Most owners wait too long to think about their exit strategy. It’s easy to stay heads-down, focused on growth or day-to-day operations. But when there’s no succession plan, no buyer in sight, and no clean financials—options disappear fast.

That’s why I urge clients to think in years, not months. A strong exit starts long before you’re ready to sell.

What I Recommend for a Successful Exit

Here are some of the core principles I shared during the interview:

1. Start Early—2 to 3 Years Ahead
   A great exit doesn’t happen in a rush. Starting the planning process a few years in advance creates time to improve your financials, leadership team, and deal terms.
2. Get a Professional Valuation
   One of the first things I ask owners is: do you know what your business is worth? Most don’t. A valuation creates clarity—it gives you a real benchmark and helps identify the value gap.
3. Make the Business Less Dependent on You
   If the business can’t function without you, it’s not a business—it’s a job. We work on building systems, transferring customer relationships, and developing leadership so buyers see something sustainable.
4. Know Your Potential Buyer Profiles
   Not every exit looks the same. You might sell to a competitor, a strategic partner, a family member, or even your leadership team. Understanding your ideal buyer helps shape your strategy early.
5. Define What Matters Most—To You
   Is your goal to maximize sale price? Protect your employees? Preserve your legacy? I help owners get clear on what “success” means for them personally, so the exit reflects that.

Final Thoughts

Exiting a business isn’t just a transaction—it’s a transition. It can be one of the most rewarding chapters in your journey as a founder, but only if it’s planned with intention.

My goal is to make sure more owners get the exit they deserve—not just the one they settle for.

Click here to see the interview.